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US Shale industry

The big beasts of the global oil industry will gather today at one of the most important events in their calendar – the IHS CERAWeek conference in Houston, which is often dubbed the Davos of the energy industry.

Some of the world’s best known oil companies, including Shell, BP, Statoil and Total, face the humiliation of having a ratings downgrade, the internationally respected ratings agency, Moodys, has warned.